Wednesday, June 13, 2007

An official delegation from Dubai's Land Department is said to have visited Hong Kong yesterday, with an intention to find a few facts pertaining to their real estate.

The delegation, headed by the General Manager of Land Department, Sultan Butti Bin Mijrin, had earlier visited South Korea and Australia prior to the launch of new ownership regulation in the Dubai property sector.

Bin Mirjin mentioned "By visiting Hong Kong, we aim to keep ourselves better acquainted with best practices in the real estate sector around the world, so as to compare them with the procedures adopted in Dubai." According to Bin Mirjin, this will help in bringing in the most successful experiences and knowledge into the Dubai Property Market.

The Dubai property market is one of the most active markets in the world. The active growth that is currently happening in the market is attracting investors from all around the world, most of whom are already well-experienced in the real estate sectors in their domestic market. Bin Mirkin says "This by itself pushes us to constantly make sure that the land registration systems and market regulations here are on par with the best worldwide."

The delegates are expected to meet the officials from Hong Kong's registration department, land department and real estate brokers committee.